Crystal Widjaja (Gojek) Unlocks the Secrets of Unmeasurable Metrics and Extracts Lessons from Convoy's Downfall!

Deskripsi

This week, we are joined by Crystal Widjaja, a data-driven product expert. Crystal has held product and data leadership roles at various companies, including Kumu and Gojek, a super app and delivery and logistics platform in Southeast Asia. In these roles, she led data teams and product teams. Crystal is also a prolific contributor to Reforge, providing valuable insights through our programs, blog, and artifacts. If you enjoy what you hear in the podcast, you can find more of Crystal's rich insights at Reforge.com. This week, we will be discussing: Jason Cohen's blog post on "Metrics That Cannot Be Measured Even in Retrospect" and the challenges faced by data-driven product leaders. 📊 The lessons that product leaders can learn from the failure of Convoy, a major player in the freight brokerage business. 💡 Challenges of Being a Data-Driven Product Leader We're starting with Jason Cohen's article in which he makes three key points: 1) Some widely discussed metrics, such as the impact of a single feature on product revenue, are not easily quantifiable. 🔢 Why? Customers often ask for many features during the buying process, but they end up not using them. However, this doesn't mean that these features don't affect revenue or aren't important. ❓💰❗ Our take? It's a bit crazy how many product management books and blogs tell you to measure the impact of a feature on acquisition, retention, and monetization. 📚📈 Instead, use TARS, a framework that stands for Target Audience, Adoption, Retention, and Satisfaction. ✨🎯😃 Or, instead of measuring the positive impact on revenue, Shashir Mehrotra suggests measuring the churn rate if you remove the feature to evaluate its impact. ⏪➡️⚖️ 2) Measuring the impact of incremental activities on customer churn can be challenging. Why? There's often a big lag between the action happening and the customer churning, making it impossible to measure the single action that caused the churn. Crystal thinks this is the wrong point to make. In general, there's a sliding scale of metrics from